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Taming overconfident CEOs through stricter financial regulation
Kassner, Bernhard - 2023
paper shows that financial regulation can be effective at mitigating this type of risk. Exploiting regulatory changes … financial institutions subject to stricter regulation. Following the easing of these regulations, overconfidence-induced risk …-taking increases again. These findings confirm the effectiveness of financial regulation at correcting overconfident behavior, but also …
Persistent link: https://www.econbiz.de/10014477386
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Macro to the rescue? : an analysis of macroprudential instruments to regulate housing credit
Falter, Alexander - 2019
This paper builds a macro model with a financial sector and a housing market to understand the transmission and effects of macroprudential instruments addressing mortgage credit. The model compares the introduction of a loan-to-value ratio (LTV), a countercyclical capital buffer (CCyB)-style...
Persistent link: https://www.econbiz.de/10012034723
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System-wide and banks' internal stress tests : regulatory requirements and literature review
Pliszka, Kamil - 2021
This paper deals with both system-wide and banks' internal stress tests. For system-wide stress tests it describes the evolution over time, compares the stress test design in major jurisdictions, and discusses academic research. System-wide stress tests have gained in importance and nowadays...
Persistent link: https://www.econbiz.de/10012534563
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Cross-border prudential policy spillovers : how much? how important? : evidence from the international banking research network
Buch, Claudia M.; Goldberg, Linda S. - 2017
The development of macroprudential policy tools has been one of the most significant changes in banking regulation in …
Persistent link: https://www.econbiz.de/10011595267
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The credit quality channel : modeling contagion in the interbank market
Fink, Kilian; Krüger, Ulrich; Meller, Barbara; Wong, … - 2015
We propose an algorithm to model contagion in the interbank market via what we term the credit quality channel. In existing models on contagion via interbank credit, external shocks to banks often spread to other banks only in case of a default. In contrast, shocks are transmitted via asset...
Persistent link: https://www.econbiz.de/10011381702
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International banking and cross-border effects of regulation : lessons from Germany
Ohls, Jana; Pramor, Marcus; Tonzer, Lena - 2016
We analyze the inward and outward transmission of regulatory changes through German banks' (international) loan portfolio. Overall, our results provide evidence for international spillovers of prudential instruments, these spillovers are however quite heterogeneous between types of banks and can...
Persistent link: https://www.econbiz.de/10011518213
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Multinational banks in regulated markets : is financial integration desirable?
Haufler, Andreas; Wooton, Ian - 2018
We set up a two-country, regional model of trade in financial services. Competitive firms in each country manufacture non-traded consumer goods in an uncertain productive environment, borrowing funds from a bank in either the home or the foreign market. Duopolistic banks can choose their levels...
Persistent link: https://www.econbiz.de/10011902728
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The spillover effect of managerial taxes on mutual fund risk-taking
Bührle, Anna Theresa; Yen, Chia-Yi - 2023 - First version: July 18, 2023
When faced with higher managerial taxes, mutual fund managers who personally invest in the funds they manage take on greater risk. By exploiting the enactment of the American Taxpayer Relief Act 2012 as an exogenous tax shock, we observe that co-investing fund managers increase risk-taking by...
Persistent link: https://www.econbiz.de/10014323792
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Freeze! : financial sanctions and bank responses
Efing, Matthias; Goldbach, Stefan; Nitsch, Volker - 2019
We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...
Persistent link: https://www.econbiz.de/10012230708
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Freeze! : financial sanctions and bank responses
Efing, Matthias; Goldbach, Stefan; Nitsch, Volker - 2018
We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...
Persistent link: https://www.econbiz.de/10011938062